Canadian dollar advances, greenback weakens on Fed rate expectations

TORONTO – The Canadian dollar registered a solid gain Wednesday amid general U.S. dollar weakness and higher commodity prices.

The loonie rose 0.23 of a cent to 91.89 cents US.

Analysts pointed to low expectations for first-quarter U.S. gross domestic product growth, owing to the severe winter weather, and suggestions the American economy may have contracted during the January-March period.